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Tag Archives: Fiscal Cliff

In the announcement by credit rating agency Standard & Poor’s on Monday that affirmed its AA+ rating of United States sovereign debt while revising upward its outlook from “negative” to “stable,” the agency explained that in the short run there has been some perceptible improvement in the country’s fiscal situation but in the long run

The likelihood that the combination of Moore’s Law and the inability of the IRS to keep up with it could spell the end of Obamacare altogether is increasing.

Nearly 50 years ago Intel co-founder Gordon Moore predicted that the number of transistors implanted on circuit boards would continue to double every two years. So accurate was his prediction that “Moore’s Law” is now used in the semiconductor industry as

The GOP strategy was simple: give up on the debt ceiling fight and save the heavy artillery for the sequester. If the president can’t come to terms acceptable to the Republicans in the House, then the calendar will

Calling it a debt limit “suspension,” the House GOP is voting today on a measure to allow the federal government to continue to spend until May 19th, at which time it will reconsider the issue once again. It also

Dancing On The Debt Ceiling by Brianna C George (Photo credit: brianna.george)

The Conservative Action Project, chaired by former Attorney General Edwin Meese, sent a “Memo for the Movement” to House GOP leaders meeting in Williamsburg, urging them not to raise the debt ceiling unless cuts in government spending were included. More than 100 conservative leaders signed the memo, including Chris Chocola, President of the Club for Growth, Penny Nance, President of Concerned Women for America, and Tim Phillips, President of Americans for Prosperity.

It took just 518 days for deficit spending to reach the debt ceiling which was raised in the summer of 2011 midst acrimony and disagreement. That debt ceiling crisis was triggered in May, 2011, when the House voted down a “clean” debt ceiling bill – one without conditions – by a vote of 318 to 97. The Republicans wanted to use the debt ceiling issue as leverage to get the Obama administration to agree to spending cuts on entitlements (and no increases in taxes) to begin to close the deficit and to address the long-term issue of the country’s accelerating national debt. After two months of wrangling, a last-minute deal was reached and the

Katie Kieffer has named them: They are all Senators: Rand Paul, Richard Shelby, Chuck Grassley, Marco Rubio, and Mike Lee. Each voted “no” on the fiscal cliff deal that roared through the Senate like a runaway pickup truck leaving the scene of an accident.

Katie says:

I expect my leaders to keep their word. If they tell me they are Republican, I expect them to

Bernie Quigley, writing at the Pundit’s Blog for The Hill on Wednesday, considered the fiscal cliff bill that became the American Taxpayer Relief Act of 2012 (ATRA) as a “touchstone…a benchmark…to mark the progress of history.” He considers the law as a

In his latest column Hugh Hewitt rolls out argument after argument about why the GOP was forced to go along to get along on the fiscal cliff “deal” that no one likes. First, Boehner thought he could trust the president to be forthright:

The Speaker always seemed to assume the president was negotiating in good faith, even as the campaign events continued, and even as he was pummeled day and night by the president and his surrogates in the MSM.

Second, the GOP tried to do a backroom deal and it failed:

The collapse of the Speaker’s and the GOP’s ability to make an argument was complete when the silly “Plan B” stunt unfolded and then crashed and burned in front of the country last week.

Now that the House of Representatives has virtually rubber-stamped the Senate bill to avoid going over the fiscal cliff – the so-called American Taxpayer Relief Act of 2012 (ATRA) – which President Obama is expected to sign shortly, commentators have been working feverishly to determine exactly what is in the 157-page bill that no one had time to read before being rushed to completion at the very last minute.

The analysis by the Congressional Budget Office (CBO) measured the impact of ATRA against its baseline assumption that the congress would do nothing and let all the pieces and parts of the fiscal cliff occur automatically. In that baseline, annual government deficits would have been cut in half, from $1.1 trillion to about $640 trillion. But under the new law, the national debt will increase by

The fiscal cliff “deal” about to be signed into law by President Obama is all about tax increases. This is what The One has wanted since he got into office. He wanted to overload the system so much that taxpayers would be forced to pay more. It’s more of the “leveling” required to push the US down relative to other deadbeat nations who also can’t pay their bills. The easier to be “absorbed” into the new world order run by non-elected elites. But I digress…

According to the Congressional Budget Office (CBO), the “deal” consists of $15 billion in spending cuts (over the next ten years, mind you) compared to $620 billion in new taxes – a ratio of 41:1. What a deal!

“We’ll address spending cuts later” is now the cry from sycophants like Grover Norquist. “We got a deal we can live with,” they say. “Now let’s get down to business.”

Sorry. Business is already done. That window of opportunity to hold the government accountable is closed. Obama got what he wanted. Boehner caved in. End of discussion.

I’m biased (!). But I think the fiscal cliff turned out to be a speed bump on the road to more

I really shouldn’t be surprised at this. The Scriptures say not to put my trust in man. But I wanted to believe that, of all people, Norquist – the founder of Americans for Tax Reform, the creator and promoter of the “Taxpayer Protection Pledge,” and the author of his famous quote: “I’m not in favor of abolishing the government. I just want to shrink it down to the size where we can drown it in the bathtub.” – would be the very last person to back down on his pledge not to vote for any – any – tax increases.

Sorry to disappoint. This is from Newsmax:

Grover Norquist, the influential president of Americans for Tax Reform, said he would support a plan, negotiated by Vice President Joe Biden and House Minority Leader Mitch McConnell, to resolve the fiscal cliff drama.

According to CNN, one of the sticking points to resolving the fiscal cliff “crisis” is the “poison pill” – better known as the “chained CPI,” to adjust future benefit payouts in response to continued price inflation caused by the Federal Reserve. It’s a simple case of apples and oranges:

Following increasing dissatisfaction with House Speaker John Boehner, staffs of unnamed House members have developed a detailed plan to oust John Boehner (R-Ohio) as the first order of business on Thursday, January 3rd, 2013. Matthew Boyle, writing for Breitbart.com, obtained a copy of the plan with its strategy and tactics laid out in detail. Provided by staffers who demanded anonymity in case the plan backfires, it will be